Biopharmaceuticals Contract Manufacturing Market Size, Segments And Growth Forecast Report 2024 To 2033

The biopharmaceuticals contract manufacturing market size has grown rapidly in recent years. It will grow from $18.31 billion in 2023 to $20.23 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to increased biopharmaceutical development, cost efficiency and risk mitigation, growing pipeline of biologics, globalization of biopharmaceutical industry, flexible manufacturing solutions.

The biopharmaceuticals contract manufacturing market size is expected to see rapid growth in the next few years. It will grow to $29.97 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to increasing outsourcing trends, biosimilar development, shorter time-to-market requirements, global market expansion, focus on specialized services. Major trends in the forecast period include technological integration, outsourcing expansion beyond large molecules, advanced manufacturing technologies adoption, focus on quality and compliance, rise of biosimilars manufacturing, .

Market Overview -
Biopharmaceutical contract manufacturing refers to a process in which a biopharmaceutical company hires a third-party manufacturer to produce its drugs or biologic products on its behalf. It is utilized when pharmaceutical businesses employ the facilities of other companies to manufacture pharmaceuticals under their own brand. It is identical to private label or third-party production.

Download Free Sample of Report -

https://www.thebusinessresearchcompany.com/sample.aspx?id=10181&type=smp

Surging Biologics Demand Propels Growth In Biopharmaceutical Contract Manufacturing Market
The increasing demand for biologics is expected to propel the growth of the biopharmaceutical contract manufacturing market going forward. Biologics are products manufactured from living organisms or containing pieces made from them, such as those derived from humans, animals, or microbes, using biotechnology. They are utilized to treat various diseases and ailments and provide the most cutting-edge therapies currently available. The biologics contract manufacturing industry is expanding due to the expanding biologics pipeline, the complexity of the production process, and firms focusing on their core capabilities, several pharmaceutical and biotechnology businesses are currently outsourcing a wide range of tasks, from commercial-scale manufacturing to early-stage drug research. For instance, in December 2021, IQVIA Inc, a US-based provider of commercial outsourcing and biopharmaceutical development services, released a report stating that by 2021, biologics will account for 34% of all medical expenditures in Europe, with a value of €78.6 billion (US $86.29 billion) with a five-year compound annual growth rate (CAGR) of 10.5%. Therefore, the increasing demand for biologics is driving the growth of the biopharmaceutical contract manufacturing market.

Competitive Landscape -
Major companies operating in the biopharmaceuticals contract manufacturing market report are Boehringer Ingelheim GmbH, Lonza Group Ltd., Inno Biologics Sdn Bhd, Rentschler Biopharma SE, Samsung Biologics Co. Ltd., AGC Biologics, ProBioGen AG, FUJIFILM Diosynth Biotechnologies, Thermo Fisher Scientific Inc., Binex Co. Ltd., AbbVie Inc., Catalent Inc, Pfizer Inc., Merck KGaA, Pressure BioSciences, Novartis International AG, Cambrex Corporation, Emergent BioSolutions Inc., JRS Pharma GmbH & Co. KG, WuXi Biologics, Siegfried Holding AG, Toyobo Co. Ltd., ADMA Biologics Inc., UCB S.A., AstraZeneca PLC, Johnson & Johnson, Takeda Pharmaceutical Company Limited, Shire Pharmaceuticals LLC, Baxter International Inc., Becton Dickinson and Company, Polyphor Ltd., Patheon Inc., Alcami Corporation

Product Innovations Drive Growth In Biopharmaceutical Contract Manufacturing Market
Product innovations are a key trend gaining popularity in the biopharmaceuticals contract manufacturing market. Major companies operating in the biopharmaceutical contract manufacturing market are developing innovative products to sustain their position in the market. For instance, in February 2023, Thermo Fisher Scientific, a US-based biotechnology research company, and Elektrofi, a US-based biotechnology company specializing in drug formulation and delivery innovations, entered into a strategic contract manufacturing agreement to support the commercial production of Elektrofi's ground-breaking ultra-high concentration subcutaneous products. Elektrofi's proprietary microparticle technology enables small-volume injections of biologics such as monoclonal antibodies, therapeutic proteins, and other large-molecule medications important for human health. Elektrofi's platform technology allows patients to self-inject medicines at home rather than in a hospital setting, overcoming the difficulties of administering biologic-based medications.

Browse Full Report @

https://www.thebusinessresearchcompany.com/report/biopharmaceuticals-contract-manufacturing-global-market-report

Key Segments -

The biopharmaceuticals contract manufacturing market covered in this report is segmented -

1) By Product: Biologics, Monoclonal Antibodies (MABs), Recombinant Proteins, Vaccines, Antisense, RNAi, And Molecular Therapy, Biosimilars
2) By Source: Mammalian, Non-mammalian
3) By Service: Process Development, Fill And Finish Operations, Analytical And QC studies, Packaging
4) By Application: Clinical, Commercial

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.